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Local governments, which have already suffered their own losses of tax revenues, will probably lose far more as a result of the deal when the state begins dipping into tax streams on which they depend, including gasoline taxes.
Indeed, the two are under different ministries and ran by different organizations, and fed from different tax streams.
No new taxes on City residents unaffiliated with stadium operations, and no diversion of existing tax streams which currently pay for existing City services.
"It is economic analysis malpractice, at best, to assign the economic and tax streams associated with such jobs to a new project". Hudson Yards has already benefited from city help through the years: The No. 7 subway extension to the site, completed last year, was paid for by a $3 billion city bond offering, which also included earmarks for other infrastructure upgrades in the area.
They were funded by property tax streams meant to improve neighborhoods by eliminating blight and replacing it with strong economic uses.
The other big factor driving corruption in the oil industry is because the piles of cash are so big and concentrated into a relatively small number of big tax streams and projects.
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But amid tight budgets, the prospect of a new sales tax stream has encouraged lawmakers to lift bans in many places.
The police headquarters fund, a countywide tax stream dedicated to police services, ran a $216 million deficit last year, which was closed with a loan from general funds.
"I think they figure if they become part of the tax stream, the less vulnerable they will be to some shift in mores," he said.
In Louisiana, administrators from Jefferson Parish recently lost a lawsuit over whether they could tax streaming video-on-demand and pay-per-view services.
The current proposal includes a tax stream for the next five years, but John Tavaglione, the president of the California State Association of Counties, said many worry that the money is not guaranteed in the long term.
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